Is 0% APR car finance a good idea?

A 0% car finance deal means that the loan you take out to pay for the car is interest free. This is unlike a regular finance deal, in which you would expect to pay APR (Annual Percentage Rate) within your monthly repayments. 

With a 0% APR car finance deal at Chapelhouse, you won't pay interest on your repayments across the term of the deal (normally 5 years/60 months). This means that you would be spending the same amount of money as a cash buyer, but you are able to spread the cost over time to suit your budget. 

There is a great choice of quality Used Cars at Chapelhouse that are available with 0% APR.

Would I need to put down a large deposit to get a 0% APR deal?

With many 0% APR car finance deals, you would expect to have to put down a sizeable deposit. 

But not at Chapelhouse. With our 5 year 0% APR deals, you don't even need to put down a deposit unless you want to, in order to reduce your monthly payments. That's right, we offer 5 years 0% APR with no interest and no deposit!

With no interest to pay and no deposit needed up front, it could save you hundreds of pounds across the length of the deal. This is especially handy for new drivers or first-time buyers who typically don't have a large deposit to get them started on their purchasing journey. 

It may even mean that you could drive away in a better car than your budget would normally allow for. This is just one of the great aspects of our 5 years 0% APR offer. 

You don't even necessarily need to have an excellent credit score to qualify for 0% financing. Lots of factors are taken into consideration by our panel of lenders to get you the best possible funding. 

At Chapelhouse, we are a credit broker, not a lender. We work closely with finance companies to tailor finance packages to suit any budget. We are always open, honest and transparent with our customers regarding car finance, and would always recommend a deal that best accommodates their needs across the full five years.

What types of car finance packages can I get a 0% APR deal on?

A 0% APR car finance deal can be done on selected used vehicles within the Chapelhouse range on Hire Purchase (HP). Keep an eye out for our Manufacturer Partners who, from time to time, launch 0% APR PCP (Personal Contract Plan) or 0% APR HP (Hire Purchase). Both the HP and PCP agreements allow for you to buy the car outright at the end of the fixed term. 

Once you have completed your agreed monthly payments, a one-off payment of what the car is then worth can be made to make the car yours. This is known as the balloon payment.  

Alternatively, you could take out another finance deal on a quality New or Used Car, or simply hand the car back to the finance company and walk away. 

You can click here to read more about how PCP and Hire Purchase works, along with other finance package options that are available at Chapelhouse.